Mortgage Rates Unchanged to Slightly Higher

Posted To: Mortgage Rate Watch

Mortgage rates were slightly higher today, on average, as bond markets backed away from their stronger levels seen during the last 2 days of October. "Strength" in bond markets connotes higher prices for bonds and lower interest rates. In actuality, the bonds that dictate mortgage rates are fairly close to yesterday's levels. Additionally, some lenders are offering mortgage rates that are fairly close to yesterday's, but the median lender is a bit worse off due to weaker bond market conditions earlier this morning (bonds improved during the day, but not every lender changed rate sheets accordingly). The Fed statement came out this afternoon, but it didn't contain any major revelations that affected rates. Based on the trajectory in markets, it looks like some investors thought the Fed might...(read more)

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